: Hilton Grand Vacations stock rises after new share repurchase program, representing 11% of market cap


Shares of Hilton Grand Vacations Inc. HGV climbed 1.0% in premarket trading Monday, after the timeshare company approved a new $500 million share repurchase program. The new two-year program will kick off once the previous $500 million program, which has $83 million remaining at the end of April, is completed. The new program represents 10.8% of the company’s market capitalization of $4.62 billion as of Friday’s close. “This new plan underscores our continued commitment to delivering long-term value to our shareholders through capital returns and reflects confidence in our cash flow trajectory and balance sheet strength,”…

This article was originally published by Marketwatch.com. Read the original article here.

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